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Knicks, Towns Talks Stagnate on Extension
Confirmed
In Short: Sources indicate that talks between the New York Knicks and Karl-Anthony Towns on a contract extension have reached a standstill, with an agreement considered unlikely as the team begins training camp.
Towns, who will turn 31 in mid-November, is eligible for a four-year, $276 million extension, according to ESPN's Bobby Marks.
The Knicks and Towns have spent significant time discussing a potential extension during the offseason, but negotiations have not progressed recently.
Towns, an All-Star in his two seasons with the Knicks, averaged 15.9 points, 10.6 rebounds, and 4.9 assists last season, contributing to the team's NBA championship.
The Knicks face several contract decisions over the next few months, including Josh Hart's extension eligibility and Jalen Brunson's below-market deal.
Sources say the Knicks have a smaller number in mind for Towns' extension, and neither side seems satisfied with the other's offer.
The Knicks' flexibility with Brunson's contract has provided some leeway, but the team's financial constraints remain a significant factor.
Towns and the Knicks have had positive discussions, but the gap between their valuations remains.
The Knicks' upcoming decisions will impact their salary cap and roster flexibility, with Towns' extension negotiations a key focus.
Sources have indicated that while talks could resume at any point, an agreement is not imminent in the short term.
What this adds
The Knicks' focus on avoiding the second apron threshold adds complexity to the negotiations.
The team's recent success and Towns' contributions to their championship run add pressure to reach an agreement.
What's confirmed
- Talks have stagnated between the New York Knicks and Karl-Anthony Towns on a contract extension, and an agreement is considered unlikely as the team begins training camp next week, sources told ESPN on Wednesday.
- Towns, who will turn 31 in mid-November, is eligible to receive a contract extension for up to four years and $276 million, according to ESPN's Bobby Marks.
- Towns is due $57 million this season and has a $61 million player option for 2027-28.
What's still developing
- Sources: Extension unlikely as talks between Knicks, Towns at standstill | ESPN La Crosse 105.5 You are using an outdated browser.
- The sides have spent extensive time discussing a potential extension during the offseason, but there has been no movement lately in negotiations, sources said, as the Knicks stand to go for a repeat following their first NBA title in 53 years.
- Knicks owner James Dolan has repeatedly said he wanted to keep the Knicks out of the punitive second apron.
- An All-Star in his two seasons in New York, Towns averaged 15.9 points, 10.6 rebounds and 4.9 assists on 55% shooting through last season's playoffs, helping the Knicks to a 16-3 mark as they defeated the San Antonio Spurs in five games in the NBA Finals.
- Extension talks between Towns and New York have stalled, and a deal is unlikely before training camp begins next week, according to Shams Charania and Vincent Goodwill of ESPN.
- Jalen Brunson gave New York considerable flexibility when he signed his below-market extension in 2024.
- Begley added that talks have been positive and New York has made clear it wants Towns around long term.
- It doesn’t set a price for Towns, who turns 31 in November.
- Contract discussions between the New York Knicks and Karl-Anthony Towns are at a standstill with the 2026-27 season less than a month away, sources told ESPN's Shams Charania and Vincent Goodwill.
- Towns and the Knicks have negotiated this summer on the heels of the franchise's first title in 53 years.
- Knicks owner James Dolan has publicly stated he wants to avoid crossing the second-apron threshold.
- Josh Hart is also currently eligible to sign an extension, and Finals MVP Jalen Brunson and OG Anunoby will become eligible next summer.